Nov 23, 2009 6:00pm EST
the most sophisticated businessman in the obama administration, having been named a partner, the youngest partner in the history of goldman sachs. his job, chairman of the commodity futures trading commission. and as the "usa today" wrote in a terrific profile this morning that you should all read, he is leading the obama administration's campaign to start policing the wild west of finance. this is gary gensler, he's the chairman of the commodity futures trading commission. gary, welcome to the show. >> good to be with you, jim. >> gary, i've got to tell you, there is a perception everywhere i go that we are just one step away from having the banking system falling apart. please tell our viewers how you think about that and whether that could be -- that we are still on the precipice. >> well, i do think, jim, that last year the system was very close to failure because the whole financial system and our regulatory system failed the american public. and that's why we have to reform the system. we have to bring these contracts. you talk about derivatives. under comprehensive reform.
Nov 25, 2009 11:00pm EST
became clear the obama administration, tim geithner and ben bernanke were not going to let another bank fail. they said we are not going to have it after the fallout from the lehman brothers. there was a level of fury i had never seen. it hung in there. in favor of pouring more into the names, a change in the economy. that produced a big move in the averages. they were beaten down, beaten to a pulp and they were so ripe. the stocks that were being sold down declined far less in percentage terms. safety stocks. it signaled there was interest in buying stocks across the board. with significant amounts of money flowing in from the sidelines smaller investors didn't want to miss the first legitimate rally in years. hedge funds. you know what they did? they declared victory. here is the bottom line. what breadth lets you know is whether a move is bringing things higher across the board or when the breadth is thin, if it's more zero sum. with money rotating. never again will they trust the dow as a way to gauge a market's health or determine its direction and frankly, it's for good reason. na
Nov 30, 2009 6:00pm EST
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Nov 24, 2009 6:00pm EST
of a washington conspiracy. and could sarah palin beat obama in 2012? that and much more.